Asian stocks subdued ahead of Fed, frail yen in focus

Singapore, Nov. 1 (BNA): Asian stocks edged higher on Wednesday ahead of a keenly awaited policy decision from the Federal Reserve later in the day, while the yen was stuck near one-year lows against the dollar as Tokyo ramped up intervention warnings.

 

 MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.14% higher. The index has clocked three straight months of losses. Japan’s Nikkei was 2% higher, Reuters reported.

 

 European stocks looked set to open on a surer footing, with the Eurostoxx 50 futures up 0.34%, German DAX futures up 0.37% and FTSE futures 0.27% higher.

 

The spotlight on Wednesday will firmly be on the Federal Reserve’s policy decision, with the central bank widely expected to hold rates steady. Comments from Fed Chair Jerome Powell will be scrutinized to gauge where interest rates are headed and how long they will stay higher.

 

 

 

 

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